Only man with Bitcoin password dies

Only man with Bitcoin password dies

ANGRY investors are demanding answers after a Canadian crypto CEO died without sharing one vital password.

Gerald Cotten - known as "Gerry" to friends - was the founder of Quadriga CX, which launched in 2013.

But the 30-year-old died due to complications from Crohn's disease in December 2018 during a visit to India, where he planned to open an orphanage for needy kids.

Mr Cotten, who was notoriously concerned with security, was the only person in his company with access to the password needed to transfer most of his clients' money.

According to his widow Jennifer Robertson, he had "sole responsibility for handling the funds and coins".

This story is bonkers, my dudes. A crypto CEO dies suddenly, unexpectedly. He takes the keys to appx. $200 mil in crypto with him to the grave. Is he really dead though?? I tracked down an old friend of his. #GeraldCottenhttps://t.co/FTW33v8xCS

Now, C$190 million ($AU200 million) in digital tokens such as Bitcoin, Litecoin and Ether is unable to be accessed from the company's "digital wallets".

A message posted to the company's website by the board of directors late last month revealed the depth of the "significant financial issues" plaguing the start-up.

"For the past weeks, we have worked extensively to address our liquidity issues, which include attempting to locate and secure our very significant cryptocurrency reserves held in cold wallets, and that are required to satisfy customer cryptocurrency balances on deposit, as well as sourcing a financial institution to accept the bank drafts that are to be transferred to us," the statement reads.

"Unfortunately, these efforts have not been successful."

The thing is, their story about how he died is a bit fishy. He was only 30, and they're saying he died from complications due to crohn's disease while opening an orphanage in India. A lot of people are finding this hard to believe.